Ferrari Mailing List: Re: "Insurance" & "Realtors" [Ferrari Digest, Vol 38, Issue 16]

[BRIGANDBAR (BRIGANDBAR]

Forgive me for responding to two unrelated postings in this digest in a  
single email. Think of it this way, you only have to read the caveats at the 
end  one time.
 
First, there are really two major considerations in acquiring virtually any 
 type of insurance. The ratings and stability of the insurance company 
writing  the policy (think Best's Ratings) and the quality of the agent, 
particularly  important if they are captive agents for companies such as State 
Farm 
though  many others operate in this manner. There is a plethora of 
commentary on  independent agents so I'll leave that to some more qualified 
than I 
on that  subject.
 
I have, for many years, placed the majority of my insurance coverage with  
USAA, but quite honestly lately they have been asleep at the wheel as it 
relates  to their original, and quantitatively substantial  and significant in 
the  context of  value of business written constituency. This factor has 
lead me  to establish a relationship with one of the local State Farm agents in 
town who  is especially well regarded by many of my professional and social 
friends and  whom I have observed to be especially diligent in his 
representation of his  clients within the company (though realizing where his 
fiduciary  responsibilities may lie). In one particular interest he was able to 
bring  several factors to the attention of their underwriters which resulted 
in their  quote on one of my vehicles being only 10%, yes that is the correct 
number, of  the premium quoted by USAA. One of the weaknesses of the 
centralized system  utilized by USAA is the absence of an individual agent who 
can 
examine the  details of a transaction up front and personal rather than 
over the telephone. I  didn't drop USAA for all insurance for a number of 
reasons, a few of which will  be self evident to current and former military 
officers, but he did win my  non-collectible and stated value vehicle policies.
 
Secondly, as it pertains to realtors, and this may vary in any particular  
state but it is generally true, these individuals (realtor) owe their 
fiduciary  responsibility to the seller, and not to the buyer, unless there is 
a 
specific  contractual obligation between the buyer and the realtor and it is 
disclosed to  the seller in any contracts or offers presented. Yes, you may 
select and be  shown properties by your own choice of realtor but that 
individual is  compensated by the seller, not the buyer, through a vehicle of 
commission  sharing, unless there is written agreement to the contrary. In my 
numerous moves  I have taken it upon myself to write a retainer contract with 
a nominal cash  payment up front to the realtor of my choice and 
stipulation that he/she  will remain entitled a share of the commission, 
however, 
without recourse by the  seller. When, many years ago I have a broker's license 
[in Texas there are  (were, that was a long time ago) many reasons why even 
a non-participatory  broker would obtain a license at that level and then 
nominally supervise, but  basically only accept financial responsibility for, 
the actions of a number of  licensed real estate sales persons]. Bottom 
line, unless you specifically  contract otherwise "your" realtor actually 
legally represents the seller and is  obligated to them to get the highest and 
best price for the property in  question. Never, ever, forget that, and I would 
suggest that you also never  disclose anything to your realtor that you 
would not equally disclose to the  seller's realtor in the negotiations, e.g. 
the maximum amount of money you are  actually willing to pay for the 
property, not what you are bidding on it.
 
Caveat emptor seems to be the universal, and timeless controlling factor in 
 virtually all things in commerce.
 
Dr. Steve
 
Dr.  Stephen B. Spies, CES, CFI
Director, Forensic Sciences  Laboratory
Explosives Engineering Technologies

1964 Rolls Royce Silver  Cloud III.....1975 Pontiac Grandville 
1980 MB 450  SL............................1982 Rolls Royce Corniche DHC
1988 Rolls Royce  Silver Spur..........1994 F-350 PowerStroke Diesel 
1995 Ferrari 348  Spyder.................1996 Ford Bronco 
2000 Lincoln Town  Car....................2004 Ford Excursion
+ a
1985 MB 280GE Galedenwagen  for Explorations 
+ a
1976 HAHN- WARNER & SWASEY- DUPLEX DIVISION HOWE  APPARTUS. THE MODEL #R400 
FIRE TRUCK w/a 100' Tower System 
+ a
1985 GMC  Brigadier Farm Truck/20T Wrecker
&
Audrey's 2 MB's [1980 450SL &  1987 420SEL] to care for...

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In a message dated 9/17/2009 5:16:26 A.M. Central Daylight Time,  
ferrari-request [at] ferrarilist.com writes:

.  Insurance--cheap is not necessarily better (Robert Rehkopf)
3.  Re: Insurance--cheap is not necessarily better
(Doug  and Terri Anderson)
4. 1969 365 2+2 For Sale  (LS)
5. Re: Today's Ferrari Chuckle (Brian E.  Buxton)